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Managing a Business/MS-08-Quantitative Analysis for Managerial Applications

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Expert: Leo Lingham - 9/1/2012

Question

Hi Sir,

Please tell the answer for the following questions.

1.   A tour operator charges Rs 136 per passenger for 100 passengers with a discount of Rs 4 each for 10 passengers in excess of 100. Determine the number of passengers that will maximize the amount of money the tour operator receives.

2.   Calculate Bowley’s coefficient of skewness (based on quartiles) from the following data

Weight (lbs)   No. of students   Weight (lbs)   No. of students

70-80   12   110-120   50

80-90   18   120-130   45

90-100   35   130-140   20

100-110   42   140-150   8

3.   A normal curve has mean=20 and standard deviation = 10. Find the area between x1=15 and x2=40.

4.   A simple random sample of the height of 6400 Englishmen has a mean of 67.85” and a standard deviation of 2.56” while a simple random sample of heights of 1600 Austrians has a mean of 68.55” and standard deviation of 2.52”. Do the data indicate that the Austrians are on average taller than the Englishmen? Give reasons for your answer.

5.   Write short notes on:

a)   One-tail & two-tail tests

b)   Moving average models

c)   Standard error of the slope 

Get the answer below

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Answer

  A tour operator charges Rs 136 per passenger for 100 passengers with a discount of Rs 4 each for 10 passengers in excess of 100. Determine the number of passengers that will maximize the amount of money the tour operator receives.

Solution:  Let x be the no. of passengers and R(x) be the revenue function....